Summary

The article discusses the influence of marketing myths on consumer behavior and cultural practices, using the example of corn at barbecues to illustrate how narratives shape purchases and become ingrained in society.

Abstract

The author reflects on a personal experience of hosting a barbecue during the COVID-19 pandemic, emphasizing the cultural significance of corn as an essential element of a barbecue, as per his grandmother's insistence. Drawing on Robert Shiller's concept of narrative economics, the article explains how myths create narratives that drive consumer purchases, citing the U.S. housing boom as an example. It suggests that these narratives, reinforced by societal beliefs, become so powerful that they define cultural norms, such as the idea that certain foods are intrinsic to specific experiences, like corn at a barbecue.

Opinions

The author conveys skepticism about the necessity of corn at a barbecue, highlighting it as a marketing myth rather than a factual requirement.
There is an underlying concern about the impact of cultural narratives on decision-making, particularly in the context of significant economic events like the housing bubble.
The article implies that the American Dream, particularly the emphasis on homeownership, is partly a constructed narrative influenced by marketing and societal expectations.
The author seems to acknowledge the therapeutic role of activities like writing and listening to music during challenging times, such as the pandemic.
There is a subtle critique of past U.S. presidential administrations and the Federal Reserve's role in the housing bubble, suggesting that their actions contributed to the economic narrative of the time.

Is a Barbecue Real Without Corn?

How marketing myths launch industries.

To my dismay, we hosted a Father’s Day barbecue at the house. This is despite the fact that Florida is becoming the epicenter of the coronavirus.

Nevertheless I’m trying to make the most of the situation. Writing and listening to music have been therapeutic.

One thing my grandmother has been worried about all weekend is getting corn. She made my grandfather go all around just to find cobs of it.

Considering that we already have an endless supply of other food for the barbecue, I asked my grandma why she needs corn so badly.

Her answer?

“It’s not a barbecue unless it has corn!”

Mythical Narratives + Purchases = Culture

Robert Shiller, a Nobel laureate from Yale, published what will probably go down as one of the most important books in economics: Narrative Economics.

The book can be summed up into one sentence: narratives are created by myths and those narratives shape our purchases.

Consider the housing boom of the 90’s and 2000’s.

It was the best idea to buy a house, until it wasn’t. Presidents Clinton and Bush Jr. permitted the housing bubble to blow up. Their chairman of the Fed didn’t help too much, either.

Home ownership is part of the American Dream.

I don’t have to recall what happened next. Another Nobel laureate, Richard Thaler, summarized it in The Big Short.

We have a few elements to consider…

Myths: A strong belief in something that is not factually true. It can or it can’t be.
Narratives: Stories based on the belief of that myth. Stories that a customer can envision themselves partake in.
Purchases: No need for explanation.
Culture: The collection of a certain people and their behavior.

You can’t enjoy a movie without popcorn. You can’t enjoy pancakes without syrup. You can’t have a barbecue without corn.

These are all marketing myths.

It’s not like homo sapiens emerged, and several thousand years later we became hungry for popcorn in an AMC.

This didn’t happen as much as it was a learned behavior. And the same goes for corn in barbecues.